K2M Group Holdings Inc. (KTWO) Coverage Initiated at Royal Bank Of Canada
Equities research analysts at Royal Bank Of Canada started coverage on shares of K2M Group Holdings Inc. (NASDAQ:KTWO) in a report issued on Monday. The brokerage set an “outperform” rating and a $23.00 price target on the medical device company’s stock. Royal Bank Of Canada’s price target points to a potential upside of 25.00% from the stock’s current price.
KTWO has been the subject of a number of other research reports. Gabelli initiated coverage on K2M Group Holdings in a report on Friday, September 16th. They issued a “buy” rating and a $22.00 target price for the company. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $23.00 target price on shares of K2M Group Holdings in a report on Tuesday, September 13th. Wells Fargo & Co. reissued a “buy” rating on shares of K2M Group Holdings in a research note on Sunday, September 11th. Zacks Investment Research raised K2M Group Holdings from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Wednesday, October 5th. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of K2M Group Holdings in a research note on Friday, August 5th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $22.00.
Shares of K2M Group Holdings (NASDAQ:KTWO) opened at 18.40 on Monday. The firm has a 50-day moving average price of $16.94 and a 200 day moving average price of $15.45. K2M Group Holdings has a 1-year low of $10.10 and a 1-year high of $21.67. The company’s market cap is $775.47 million.
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K2M Group Holdings (NASDAQ:KTWO) last issued its earnings results on Wednesday, August 3rd. The medical device company reported ($0.27) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. K2M Group Holdings had a negative return on equity of 12.90% and a negative net margin of 17.79%. The business earned $59.20 million during the quarter, compared to analysts’ expectations of $57.47 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts anticipate that K2M Group Holdings will post ($1.09) earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in KTWO. BlackRock Advisors LLC boosted its stake in K2M Group Holdings by 31.4% in the second quarter. BlackRock Advisors LLC now owns 12,611 shares of the medical device company’s stock valued at $196,000 after buying an additional 3,016 shares in the last quarter. Panagora Asset Management Inc. boosted its stake in K2M Group Holdings by 132.4% in the second quarter. Panagora Asset Management Inc. now owns 13,246 shares of the medical device company’s stock valued at $206,000 after buying an additional 7,547 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in K2M Group Holdings by 15.1% in the first quarter. Metropolitan Life Insurance Co. NY now owns 14,399 shares of the medical device company’s stock valued at $214,000 after buying an additional 1,886 shares in the last quarter. American International Group Inc. boosted its stake in K2M Group Holdings by 43.6% in the second quarter. American International Group Inc. now owns 14,817 shares of the medical device company’s stock valued at $230,000 after buying an additional 4,500 shares in the last quarter. Finally, Deimos Asset Management LLC acquired a new stake in K2M Group Holdings during the second quarter valued at approximately $233,000. 62.37% of the stock is owned by institutional investors and hedge funds.
About K2M Group Holdings
K2M Group Holdings, Inc is a medical device company focused on designing, developing and commercializing spine technologies and techniques. The Company’s spine products are used by spine surgeons to treat spinal pathologies, such as deformity (primarily scoliosis), trauma and tumor. The Company is engaged in designing, development and commercialization of products for patients suffering from degenerative spinal conditions.
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